Ipumbu Shiimi, Minister of Finance of the Republic of Namibia, and Herbert Beck, Ambassador of the Federal Republic of Germany have signed a financial cooperation agreement on interest-reduced loans between Germany and Namibia. The total amount of the agreement is roughly N$2.7 billion and comprises three major areas of German-NamibianContinue Reading
Namibia has the ingredients to become a renewable energy powerhouse, according to Marco Raffinetti, chief executive of Hyphen Hydrogen Energy, the company selected in November 2021 as the preferred bidder for Namibia’s first hydrogen project. “It has excellent co-located wind and solar resources, large swathes of uninhabited, government-owned land –Continue Reading
…expects overall budget deficit to remain elevated at 7.6% of GDP Fitch Ratings has downgraded Namibia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-‘ from ‘BB’. The outlook is stable. In its rating report and among other key issues, Fitch said that Namibia’s modest growth prospects and a rigid expenditureContinue Reading
…commits to improve prices paid to NCA farmers Meatco is currently engaged in advanced discussions with various markets which would see Namibian beef from the Northern Communal Areas (NCA) being exported to these viable markets possibly by the end of this year, Meatco CEO Mwilima Mushokabanji has said. Through theContinue Reading
MEATCO’s emerging rival, the Beef Value Chain Forum (BVCF) has raised up to N$94 million in a private placement as it looks to put up an abattoir which will provide an alternative for meat producers in the country, Business Express can exclusively reveal. Earlier in the year, the Forum putContinue Reading
At the end of last week, mega-retailer Shoprite issued a statement warning customers to be on the alert for identity fraud after a hacking gang claimed to have broken into the Shoprite servers and steal some customer names and ID numbers but no financial information or bank account numbers. ShopriteContinue Reading
Market sources in Pretoria, Windhoek and Harare have reportedly revealed that Zimbabwean financial institutions, Stratus Capital Partners and Bard Santner Markets are in the process of brokering a massive N$1.8 billion deal involving the acquisition of an iconic property, The Grove Mall of Namibia, in Windhoek. The deal will seeContinue Reading
CRYPTOCURRENCY boss Coenie Botha and his cryptocurrency trading company, CBI Exchange Namibia (Pty) Ltd have lodged an urgent application with the high court in which they seek to compel the Bank of Namibia (BoN) to comply with a court order made on March 18. The order was subsequent to CBIContinue Reading
Sinikka Antila, EU Ambassador to Namibia officially handed over Information Technology (IT) Equipment valued at N$4.5 million to the Ministry of Agriculture, Water and Land Reform on Friday, 10 June 2022. The equipment is procured under the Livestock Support Programme in the Northern Communal Areas (LSP) of Namibia funded byContinue Reading
The Namibian banking industry plays a critical role in catalysing economic activity and ensures financial stability, especially in unprecedented and challenging times. Bank Windhoek’s Managing Director, Baronice Hans, said this when she took over the Chairpersonship of the Bankers Association of Namibia (BAN) on Friday, 10 June 2022, in Windhoek.Continue Reading
